One third of B.C. businesses have been victims of fraud

Survey conducted as part of Fraud Awareness Month

TORONTO, March 25, 2014 /CNW/ - One third (33 per cent) of B.C.
businesses claim to have been victims of fraud according to a survey
conducted by MNP LLP, in partnership with the Vancouver Province and
market research firm The Mustel Group. Additionally, more than a
quarter (27 per cent) of the general public has also been victims of
fraud. However, the survey also demonstrates that only eight per cent
of the general public and only five per cent of businesses perceive the
risk of fraud to be high. The survey was conducted to coincide with
Fraud Awareness Month, which is held every March.

"We are not surprised that incidents of fraud are as high as they are,"
said Jackie Davies, partner and B.C. leader of MNP's Investigative and
Forensic Services Group. "However we are concerned that so many of the
respondents felt that the risk of fraud was low. Clearly there is a
disconnect between the realities of fraud and perceptions of it."

The survey was conducted in two parts - the first was a survey of the
B.C. public conducted on-line, asking 400 people to relate their
experience with and perception of fraud in their daily lives and at
their places of work. The second was a survey of B.C. businesses
conducted by telephone, asking 200 people to relate their experience
with and perception of fraud.

"The statistics confirm that a significant number of frauds are found by
tips from whistle blowers and third parties," said Pat McParland,
Senior Manager of MNP's Investigative and Forensics Group. "This
reinforces the findings of a survey conducted by the Association of
Certified Fraud Examiners which has reported that tips from whistle
blowers are essential components of fraud detection."

Other findings include:

Males tend to rate the risk of fraud higher than females, likely a
reflection of the fact that more males reported being victims of fraud;

People over 55 had the highest response as victims of fraud;

Respondents in Vancouver reported the lowest number of incidents of
fraud in the province.

About MNP LLP

MNP is one of the largest national accounting and business consulting
firms in Canada, providing client-focused accounting, taxation and
consulting advice. National in scope and local in focus, MNP has
proudly served individuals and public and private companies for more
than 65 years. Through the development of strong relationships, MNP
provides personalized strategies and a local perspective to help
clients succeed. For more information, visit www.mnp.ca